2008: Full global impact phase of the Very Great US Depression

January 31st, 2008 by GoldSilver | Posted in Economic News |

One year ago, LEAP/E2020 anticipated that the year 2007 would mark the US entry into what our team then called “the Very Great US Depression.”

At that time, the dominant spirit was overwhelmingly euphoric. The word “subprime” was still unknown among the general public and experts estimated that the US housing crisis would bear no consequences for the rest of the US economy.

In the course of 2007, facts however proved that a global systemic crisis was indeed throwing down all the principles the global economy was based upon since 1945; and that, along with the GEAB’s analyses in September 2007 (GEAB N°17), the seven sequences of the impact phase of the global systemic crisis would simultaneously reach climax in the course of the year 2008.

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